Sunbelt Securities Inc. Trims Position in Kimco Realty Corp (NYSE:KIM)

Sunbelt Securities Inc. decreased its holdings in shares of Kimco Realty Corp (NYSE:KIM) by 5.4% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 10,141 shares of the real estate investment trust’s stock after selling 582 shares during the period. Sunbelt Securities Inc.’s holdings in Kimco Realty were worth $235,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in KIM. Catalyst Capital Advisors LLC purchased a new position in Kimco Realty during the 3rd quarter worth $25,000. Brooklyn Investment Group acquired a new position in shares of Kimco Realty during the third quarter worth about $37,000. Blue Trust Inc. raised its holdings in Kimco Realty by 613.5% during the second quarter. Blue Trust Inc. now owns 2,112 shares of the real estate investment trust’s stock worth $41,000 after purchasing an additional 1,816 shares in the last quarter. Quarry LP acquired a new stake in Kimco Realty in the third quarter valued at about $51,000. Finally, UMB Bank n.a. boosted its holdings in Kimco Realty by 112.6% in the 2nd quarter. UMB Bank n.a. now owns 3,374 shares of the real estate investment trust’s stock valued at $66,000 after purchasing an additional 1,787 shares in the last quarter. Hedge funds and other institutional investors own 89.25% of the company’s stock.

Kimco Realty Stock Up 0.5 %

Shares of NYSE:KIM opened at $24.61 on Friday. The company has a market capitalization of $16.59 billion, a P/E ratio of 44.75, a P/E/G ratio of 3.20 and a beta of 1.50. The stock’s fifty day simple moving average is $24.50 and its 200-day simple moving average is $22.43. Kimco Realty Corp has a 52-week low of $17.57 and a 52-week high of $25.83. The company has a quick ratio of 3.59, a current ratio of 3.59 and a debt-to-equity ratio of 0.78.

Kimco Realty (NYSE:KIM) last released its earnings results on Thursday, October 31st. The real estate investment trust reported $0.19 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.22). The firm had revenue of $507.63 million during the quarter, compared to analysts’ expectations of $502.78 million. Kimco Realty had a net margin of 19.58% and a return on equity of 3.68%. Kimco Realty’s revenue for the quarter was up 13.8% on a year-over-year basis. During the same quarter last year, the company posted $0.40 earnings per share. As a group, equities research analysts forecast that Kimco Realty Corp will post 1.64 earnings per share for the current fiscal year.

Kimco Realty Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Thursday, December 5th will be paid a $0.25 dividend. This is a boost from Kimco Realty’s previous quarterly dividend of $0.24. This represents a $1.00 annualized dividend and a yield of 4.06%. The ex-dividend date is Thursday, December 5th. Kimco Realty’s payout ratio is presently 181.82%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. Robert W. Baird increased their target price on Kimco Realty from $23.00 to $26.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 12th. Compass Point increased their price objective on Kimco Realty from $25.00 to $28.00 and gave the stock a “buy” rating in a research report on Tuesday, September 10th. UBS Group boosted their target price on shares of Kimco Realty from $25.00 to $30.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. The Goldman Sachs Group increased their price target on shares of Kimco Realty from $20.00 to $22.50 and gave the company a “neutral” rating in a report on Thursday, September 12th. Finally, Scotiabank boosted their price objective on shares of Kimco Realty from $23.00 to $26.00 and gave the stock a “sector perform” rating in a report on Monday, November 25th. Nine investment analysts have rated the stock with a hold rating, five have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, Kimco Realty currently has an average rating of “Moderate Buy” and a consensus price target of $24.70.

Kimco Realty Company Profile

Kimco Realty Corp. is a real estate investment trust (REIT) headquartered in New Hyde Park, N.Y., that is one of North America’s largest publicly traded owners and operators of open-air shopping centers. As of December 31, 2018, the company owned interests in 437 U.S. shopping centers comprising 76 million square feet of leasable space primarily concentrated in the top major metropolitan markets.